L2 Asset Management LLC Acquires New Position in Marsh & McLennan Companies, Inc. $MRSH

L2 Asset Management LLC purchased a new stake in Marsh & McLennan Companies, Inc. (NYSE:MRSH) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,754 shares of the financial services provider’s stock, valued at approximately $459,000.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Brighton Jones LLC increased its position in shares of Marsh & McLennan Companies by 51.2% in the 4th quarter. Brighton Jones LLC now owns 8,738 shares of the financial services provider’s stock valued at $1,856,000 after buying an additional 2,960 shares in the last quarter. Bison Wealth LLC lifted its holdings in Marsh & McLennan Companies by 39.6% during the fourth quarter. Bison Wealth LLC now owns 3,064 shares of the financial services provider’s stock worth $651,000 after acquiring an additional 869 shares in the last quarter. Glenview Trust co grew its stake in Marsh & McLennan Companies by 10.8% in the second quarter. Glenview Trust co now owns 3,897 shares of the financial services provider’s stock valued at $852,000 after acquiring an additional 379 shares during the period. Osterweis Capital Management Inc. increased its holdings in shares of Marsh & McLennan Companies by 18,440.0% in the second quarter. Osterweis Capital Management Inc. now owns 927 shares of the financial services provider’s stock worth $203,000 after acquiring an additional 922 shares in the last quarter. Finally, Diversify Advisory Services LLC acquired a new stake in shares of Marsh & McLennan Companies during the second quarter worth about $1,307,000. Institutional investors and hedge funds own 87.99% of the company’s stock.

Marsh & McLennan Companies Price Performance

Shares of MRSH opened at $193.59 on Wednesday. The company has a market cap of $92.38 billion, a P/E ratio of 23.67, a PEG ratio of 2.79 and a beta of 0.59. The company has a 50-day moving average price of $180.99. Marsh & McLennan Companies, Inc. has a one year low of $156.60 and a one year high of $207.82. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.22.

Marsh & McLennan Companies (NYSE:MRSH) last issued its earnings results on Tuesday, July 21st. The financial services provider reported $2.96 EPS for the quarter, topping the consensus estimate of $2.89 by $0.07. The company had revenue of $7.28 billion during the quarter. Marsh & McLennan Companies had a return on equity of 32.67% and a net margin of 14.24%.The company’s quarterly revenue was up 6.2% on a year-over-year basis. Analysts expect that Marsh & McLennan Companies, Inc. will post 10.43 earnings per share for the current year.

Marsh & McLennan Companies Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 14th. Shareholders of record on Thursday, July 23rd were paid a $0.99 dividend. This is a positive change from Marsh & McLennan Companies’s previous quarterly dividend of $0.90. The ex-dividend date was Thursday, July 23rd. This represents a $3.96 annualized dividend and a yield of 2.0%. Marsh & McLennan Companies’s dividend payout ratio is presently 48.41%.

Insider Buying and Selling at Marsh & McLennan Companies

In other Marsh & McLennan Companies news, CEO John Q. Doyle sold 16,656 shares of the stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $161.71, for a total transaction of $2,693,441.76. Following the sale, the chief executive officer directly owned 116,811 shares in the company, valued at $18,889,506.81. This represents a 12.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Martin South sold 7,100 shares of Marsh & McLennan Companies stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $189.99, for a total transaction of $1,348,929.00. Following the completion of the transaction, the insider directly owned 16,632 shares in the company, valued at $3,159,913.68. This trade represents a 29.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 36,469 shares of company stock worth $6,291,345. 0.38% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms recently issued reports on MRSH. JPMorgan Chase & Co. increased their target price on Marsh & McLennan Companies from $206.00 to $212.00 and gave the stock an “overweight” rating in a research note on Monday, July 13th. Mizuho upped their price target on shares of Marsh & McLennan Companies from $197.00 to $201.00 and gave the company a “neutral” rating in a report on Wednesday, July 22nd. Wells Fargo & Company raised their price objective on shares of Marsh & McLennan Companies from $186.00 to $188.00 and gave the stock an “equal weight” rating in a report on Wednesday, July 22nd. Citigroup cut shares of Marsh & McLennan Companies from a “buy” rating to a “neutral” rating and set a $200.00 price objective on the stock. in a research report on Wednesday, July 22nd. Finally, Piper Sandler lowered their target price on Marsh & McLennan Companies from $190.00 to $182.00 and set a “neutral” rating for the company in a report on Tuesday, May 26th. One analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, eleven have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $203.50.

About Marsh & McLennan Companies

Marsh & McLennan Companies (NYSE: MMC) is a global professional services firm headquartered in New York City that provides advice and solutions in the areas of risk, strategy and people. Founded in 1905, the company has grown into a diversified group of businesses focused on insurance brokerage and risk management, reinsurance, human capital and investment consulting, and management consulting. Its long history and scale position it as a prominent adviser to corporations, governments and other institutions seeking to manage risk and optimize human and financial capital.

The firm operates through several well-known subsidiaries and business units that specialize in distinct services.